13F-HR 1 v075179_13f-hr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2007 -------------------------------- Check here if Amendment |_|; Amendment Number: This Amendment (Check only one.): |_| is a restatement. |_| adds new holding entries. Institutional Investment Manager Filing this Report: Name: Brandes Investment Partners, L.P. -------------------------------------------------------------------- Address: 11988 El Camino Real, Suite 500 -------------------------------------------------------------------- San Diego, CA 92130 -------------------------------------------------------------------- -------------------------------------------------------------------- Form 13F File Number: 28- 5620 --------------------------- The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Adelaide Pund -------------------------------------------------------------------- Title: Head of Compliance -------------------------------------------------------------------- Phone: (858) 755-0239 -------------------------------------------------------------------- Signature, Place, and Date of Signing: /s/ Adelaide Pund San Diego, CA 5/14/07 ------------------------- ----------------- ------------ [Signature] [City, State] [Date] Report type (Check only one.): |X| 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) |_| 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager (s).) |_| 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Report Summary: Number of Other Included Managers: 0 -------------------- Form 13F Information Table Entry Total: 199 -------------------- Form 13F Information Table Value Total: $ 55,831,152 -------------------- (thousands)

----------------------------------------------------------------------------------------------------------------------------------- COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 NAME OF ISSUER TITLE CUSIP VALUE SHRS OR SH/ PR/ INVESTMENT OTHER VOTING AUTHORITY OF CLASS (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ----------------------------------------------------------------------------------------------------------------------------------- ABN AMRO HLDG NV SPONSORED ADR 000937102 886369 20603645 SH Sole 20603645 AT&T INC COM 00206R102 1156190 29322599 SH Sole 29322599 ADAPTEC INC COM 00651F108 14460 3736327 SH Sole 3736327 ADMINISTRADORA FONDOS PENSIO SPONSORED ADR 00709P108 52744 2052300 SH Sole 2052300 AEGON NV ORD AMER REG 007924103 350131 17559214 SH Sole 17559214 AGERE SYS INC COM 00845V308 57826 2556419 SH Sole 2556419 AKZO NOBEL NV SPONSORED ADR 010199305 617866 8138377 SH Sole 8138377 ALCATEL-LUCENT SPONSORED ADR 013904305 1399027 118360964 SH Sole 118360964 ALTRIA GROUP INC COM 02209S103 530809 6044972 SH Sole 6044972 AMERICAN AXLE & MFG HLDGS IN COM 024061103 54571 1995288 SH Sole 1995288 AMERICAN GREETINGS CORP CL A 026375105 37060 1596712 SH Sole 1596712 ARVINMERITOR INC COM 043353101 52806 2893467 SH Sole 2893467 BCE INC COM 05534B109 2314 81711 SH Sole 81711 BISYS Group Inc COM 055472104 20979 1830645 SH Sole 1830645 BT Group PLC ADR 05577E101 376430 6272787 SH Sole 6272787 BLOCK H & R INC COM 093671105 109384 5198864 SH Sole 5198864 BORLAND SOFTWARE CORP COM 099849101 9618 1824964 SH Sole 1824964 BOSTON SCIENTIFIC CORP COM 101137107 896941 61687841 SH Sole 61687841 BRASIL TELECOM PARTICIPACOES SPON ADR PFD 105530109 335358 7437519 SH Sole 7437519 BRIGGS & STRATTON CORP COM 109043109 77228 2503350 SH Sole 2503350 BRILLIANCE CHINA AUTO HLDG L SPONSORED ADR 10949Q105 1946 78620 SH Sole 78620 BRISTOL MYERS SQUIBB CO COM 110122108 1281660 46169316 SH Sole 46169316 BRITISH SKY BROADCASTING GRO SPONSORED ADR 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4284648 COST PLUS INC CALIF COM 221485105 4028 402830 SH Sole 402830 DEL MONTE FOODS CO COM 24522P103 12964 1129245 SH Sole 1129245 DELL INC COM 24702R101 1194743 51475364 SH Sole 51475364 DEUTSCHE TELEKOM AG SPONSORED ADR 251566105 1053203 63714640 SH Sole 63714640 DOREL INDS INC CL B SUB VTG 25822C205 22368 686150 SH Sole 686150 DOREL INDS INC CL B SUB VTG 25822C205 6690 205970 SH Sole 205970 DOW CHEM CO COM 260543103 921111 20085291 SH Sole 20085291 ESS TECHNOLOGY INC COM 269151106 1802 1407829 SH Sole 1407829 EASTMAN KODAK CO COM 277461109 778051 34488067 SH Sole 34488067 EL PASO CORP COM 28336L109 226834 15676135 SH Sole 15676135 ELECTRONIC DATA SYS NEW COM 285661104 561610 20289368 SH Sole 20289368 ERICSSON L M TEL CO ADR B SEK 10 294821608 82700 2229720 SH Sole 2229720 FAIRFAX FINL HLDGS LTD SUB VTG 303901102 2913 12920 SH Sole 12920 FEDERAL SIGNAL CORP COM 313855108 367 23665 SH Sole 23665 FIFTH THIRD BANCORP COM 316773100 765999 19798379 SH Sole 19798379 FIRST BANCORP P R COM 318672102 56206 4238738 SH Sole 4238738 FLEETWOOD ENTERPRISES INC COM 339099103 3096 391346 SH Sole 391346 FORD MTR CO DEL COM PAR $0.01 345370860 1354581 171683217 SH Sole 171683217 FRANCE TELECOM SPONSORED ADR 35177Q105 818640 31009109 SH Sole 31009109 FRIEDMAN BILLINGS RAMSEY GRO CLA 358434108 27507 4983130 SH Sole 4983130 FUJIFILM HLDGS CORP ADR 2 ORD 35958N107 423865 10376141 SH Sole 10376141 FURNITURE BRANDES INTL INC COM 360921100 11503 728976 SH Sole 728976 GANNETT INC COM 364730101 1077562 19143049 SH Sole 19143049 GATEWAY INC COM 367626108 90732 41430338 SH Sole 41430338 GENERAL MTRS CORP COM 370442105 1554468 50733278 SH Sole 50733278 GEORGIA GULF CORP COM PAR $0.01 373200203 20644 1273550 SH Sole 1273550 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 693577 12551153 SH Sole 12551153 GOODYEAR TIRE & RUBR CO COM 382550101 260133 8340261 SH Sole 8340261 GRUPO FINANCIERO GALICIA S A SP ADR 10 SH B 399909100 782 75005 SH Sole 75005 GRUPO TELEVISA SA DE CV SP ADR REP ORD 40049J206 1142 38313 SH Sole 38313 HSBC HLDGS PLC SPON ADR NEW 404280406 332966 3791895 SH Sole 3791895 HELLENIC TELECOM ORGANIZATN SPONSORED ADR 423325307 43453 3160200 SH Sole 3160200 HITACHI LIMITED ADR 10 COM 433578507 928192 12021660 SH Sole 12021660 HOME DEPOT INC COM 437076102 6287 171135 SH Sole 171135 HUNTSMAN CORP COM 447011107 105763 5540239 SH Sole 5540239 IDEARC INC COM 451663108 91662 2611466 SH Sole 2611466 INFINEON TECHNOLOGIES AG SPONSORED ADR 45662N103 194847 12514263 SH Sole 12514263 INTERNATIONAL BUSINESS MACHS COM 459200101 981754 10415379 SH Sole 10415379 INTERTAPE POLYMER GROUP INC COM 460919103 11086 2690790 SH Sole 2690790 INTERTAPE POLYMER GROUP INC COM 460919103 7648 1856490 SH Sole 1856490 INTERVOICE INC NEW COM 461142101 2983 449317 SH Sole 449317 JDS UNIPHASE CORP COM PAR $0.001 46612J507 15868 1041910 SH Sole 1041910 JOHNSON & JOHNSON COM 478160104 101776 1688940 SH Sole 1688940 KMG AMER CORP COM 482563103 1893 408845 SH Sole 408845 KT CORP SPONSORED ADR 48268K101 879646 39287438 SH Sole 39287438 K2 INC COM 482732104 4316 356967 SH Sole 356967 KANSAS CITY LIFE INS CO COM 484836101 2146 47690 SH Sole 47690 KELLY SVCS INC CL A 488152208 4648 144351 SH Sole 144351 KEMET CORP COM 488360108 38835 5076440 SH Sole 5076440 KINGSWAY FINL SVCS INC COM 496904103 4078 217960 SH Sole 217960 KINGSWAY FINL SVCS INC COM 496904103 2634 140530 SH Sole 140530 KONINKLIJKE AHOLD N V SPON ADR NEW 500467303 797210 67905479 SH Sole 67905479 KOOR INDS LTD SPONSORED ADR 500507108 4574 406590 SH Sole 406590 KOREA ELECTRIC PWR SPONSORED ADR 500631106 667060 33352992 SH Sole 33352992 KRAFT FOODS INC CL A 50075N104 1031 32553 SH Sole 32553 KROGER CO COM 501044101 818709 28980867 SH Sole 28980867 LA Z BOY INC COM 505336107 5334 430853 SH Sole 430853 LEAR CORP COM 521865105 103306 2829523 SH Sole 2829523 LILLY ELI & CO COM 532457108 2861 53270 SH Sole 53270 MAGNA INTL INC CL A 559222401 111783 1488263 SH Sole 1488263 MAGNA INTL INC CL A 559222401 8558 113909 SH Sole 113909 MAGYAR TELEKOM TELECOMMUNS P SPONSORED ADR 559776109 39560 1550171 SH Sole 1550171 MARSH & MCLENNAN COS INC COM 571748102 180685 6168827 SH Sole 6168827 MCCLATCHY CO CL A 579489105 146184 4624605 SH Sole 4624605 MERCK & CO INC COM 589331107 1015138 22982521 SH Sole 22982521 MICROSOFT CORP COM 594918104 951556 34142670 SH Sole 34142670 MICRON TECHNOLOGY INC COM 595112103 838993 69453079 SH Sole 69453079 MILLEA HOLDINGS INC ADR 60032R106 452307 12234443 SH Sole 12234443 MITSUBISHI UFJ FINL GROUP IN SPONSORED ADR 606822104 743258 66008699 SH Sole 66008699 NEC CORP ADR 629050204 87918 16464055 SH Sole 16464055 NATIONAL R V HLDGS INC COM 637277104 811 366840 SH Sole 366840 NATIONWIDE FINL SVCS INC CL A 638612101 37591 697943 SH Sole 697943 NATUZZI S P A ADR 63905A101 38603 4725030 SH Sole 4725030 NELNET INC CL A 64031N108 724 30200 SH Sole 30200 NETBANK INC COM 640933107 2292 1037102 SH Sole 1037102 NEW CENTURY FINANCIAL CORP M COM 6435EV108 1393 1313950 SH Sole 1313950 NEW YORK TIMES CO CL A 650111107 42201 1795034 SH Sole 1795034 NIPPON TELEG & TEL CORP SPONSORED ADR 654624105 815760 30888302 SH Sole 30888302 NORTEL NETWORKS CORP NEW COM NEW 656568508 1077505 44802710 SH Sole 44802710 NORTEL NETWORKS CORP NEW COM NEW 656568508 8991 374642 SH Sole 374642 PMA CAP CORP CL A 693419202 7050 750785 SH Sole 750785 PARTNER COMMUNICATIONS CO LT ADR 70211M109 31876 2153802 SH Sole 2153802 PFIZER INC COM 717081103 1190631 47135023 SH Sole 47135023 PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 6873 130163 SH Sole 130163 PHOENIX COS INC NEW COM 71902E109 33047 2380927 SH Sole 2380927 PIER 1 IMPORTS INC COM 720279108 30146 4362687 SH Sole 4362687 PILGRIMS PRIDE CORP COM 721467108 16599 500109 SH Sole 500109 PLANTRONICS INC NEW COM 727493108 4299 181989 SH Sole 181989 POLYONE CORP COM 73179P106 6852 1123215 SH Sole 1123215 POPULAR INC COM 733174106 119227 7199681 SH Sole 7199681 PORTUGAL TELECOM SGPS S A SPONSORED ADR 737273102 483744 35992826 SH Sole 35992826 QUEBECOR WORLD INC COM NON-VTG 748203106 127638 10034435 SH Sole 10034435 QUEBECOR WORLD INC COM NON-VTG 748203106 16559 1313120 SH Sole 1313120 REUTERS GROUP PLC SPONSORED ADR 76132M102 4600 83265 SH Sole 83265 SK TELECOM LTD SPONSORED ADR 78440P108 694451 29652061 SH Sole 29652061 SLM CORP COM 78442P106 2565 62720 SH Sole 62720 SAFEWAY INC COM NEW 786514208 1113038 30377686 SH Sole 30377686 SANMINA SCI CORP COM 800907107 123001 33978045 SH Sole 33978045 SANOFI AVENTIS SPONSORED ADR 80105N105 789294 18140517 SH Sole 18140517 SARA LEE CORP COM 803111103 736412 43523145 SH Sole 43523145 SCHERING PLOUGH CORP COM 806605101 1158001 45393985 SH Sole 45393985 SCHWEITZER-MAUDUIT INTL INC COM 808541106 3434 138171 SH Sole 138171 SHARPER IMAGE CORP COM 820013100 5311 480668 SH Sole 480668 SIERRA WIRELESS COM 826516106 2937 187198 SH Sole 187198 SIERRA WIRELESS COM 826516106 4633 295100 SH Sole 295100 SIGMATEL INC COM 82661W107 2060 656035 SH Sole 656035 SKYLINE CORP COM 830830105 663 19664 SH Sole 19664 SMITHFIELD FOODS INC COM 832248108 7261 242430 SH Sole 242430 SOLECTRON CORP COM 834182107 109221 34673465 SH Sole 34673465 SONY CORP ADR NEW 835699307 174612 3458344 SH Sole 3458344 STARRETT L S CO CL A 855668109 2659 147727 SH Sole 147727 STMICROELECTRONICS N V NY REGISTRY 861012102 615754 32070498 SH Sole 32070498 STONERIDGE INC COM 86183P102 3772 364068 SH Sole 364068 STRATTEC SEC CORP COM 863111100 2436 54767 SH Sole 54767 SUPERIOR INDS INTL INC COM 868168105 16312 783100 SH Sole 783100 SUPERVALU INC COM 868536103 314678 8054218 SH Sole 8054218 SWISSCOM AG SPONSORED ADR 871013108 377603 10445462 SH Sole 10445462 TDK CORP AMERN DEP SH 872351408 17347 199388 SH Sole 199388 TECUMSEH PRODS CO CL B 878895101 4526 453018 SH Sole 453018 TECUMSEH PRODS CO CL A 878895200 3911 388399 SH Sole 388399 TELE NORTE LESTE PART S A SPON ADR PFD 879246106 355739 25703710 SH Sole 25703710 TELECOM ARGENTINA S A SPON ADR REP B 879273209 191998 8997092 SH Sole 8997092 TELECOM CORP NEW ZEALAND LTD SPONSORED ADR 879278208 163673 6017374 SH Sole 6017374 TELECOM ITALIA S P A NEW SPON ADR ORD 87927Y102 1040804 36315579 SH Sole 36315579 TELECOMUNICACOES BRASILEIRAS SPONSORED ADR 879287308 341864 11620114 SH Sole 11620114 TELEFONICA S A SPONSORED ADR 879382208 1086229 16358877 SH Sole 16358877 TELEFONOS DE MEXICO S A SPON ADR ORD L 879403780 1569265 46983975 SH Sole 46983975 TELEMIG CELULAR PART S A SPON ADR PFD 87944E105 1351 36055 SH Sole 36055 TENET HEALTHCARE CORP COM 88033G100 450771 70104292 SH Sole 70104292 THOMSON SPONSORED ADR 885118109 324234 16808397 SH Sole 16808397 3COM CORP COM 885535104 90981 23268876 SH Sole 23268876 TIM PARTICIPACOES S A SPONS ADR PFD 88706P106 73507 2263149 SH Sole 2263149 TOMKINS PLC SPONSORED ADR 890030208 92978 4421226 SH Sole 4421226 TRIAD HOSPITALS INC COM 89579K109 3965 75885 SH Sole 75885 TRIBUNE CO NEW COM 896047107 60030 1869510 SH Sole 1869510 TRONOX INC COM CL B 897051207 4185 299330 SH Sole 299330 TYCO INTL LTD NEW COM 902124106 736834 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